What are some of the consequences for using the ALR if you choose to use it this way?
the background noise will rise and fall the opposite of the signal.
Soft signal will be boosted and thus have extra noise
loud signals will not have this, so you might hear the noise rising when it adjusts levels for you.
If the original material needs level fixes, it's pretty easy to do that in post production.
I recommend setting levels against a saturated (peaking) tape and then not expecting to exceed that during the transfer.